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Q. Write about the assumptions of the theory of consumer behavior based on the cardinal utility approach. 1. Rationality- It is assumed that the consumer is a rational being in
Explain why Relative PPP is useful when comparing countries that base their price levels on different product baskets. Answer: For instance If the U.S price level increase by
explain the source of foreign capital
Q. Explain the effects of a permanent increase in the U.S. money supply in the short run and in the long run. Assume that the U.S. real national income is constant. A raise in
Question 1 What are the main areas of microeconomics that business managers must be familiar with in performing their managerial functions effectively and efficiently? Questio
describe the U.S role in the world economy
Characteristics of human resources in the International Medical Center are their diversity and versatility; we find jurisdiction in the field of advanced medicine, we find at the s
Q. Explain why price levels are lower in poorer countries. Answer: One theory explicate the difference in prices on different endowments of capital and employment Bhagw
1.concepts of terms of trade,factors affecting terms of trade. 2.gross & net barter terms of trade. 3.terms of trade & economic development
explain various gains from international trade
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